Prime Minister Mia Amor Mottley has extended warm congratulations to all 24 members of the Transition Committee of the United Nations Framework Convention on Climate Change (UNFCCC), for successfully reaching an agreement on a recommendation to COP28 for operationalising the “Climate Loss and Damage Fund”.
Governments from richer and poorer countries drew up the blueprint for a new Loss and Damage Fund after a tense two-day meeting under UN guidance in Abu Dhabi that ended late on Saturday night.
Information from Climate Finance Advisor, Professor Avinash Persaud, states that the Prime Minister views it as a significant milestone which marks a crucial step forward in addressing the adverse impacts of the climate crisis and supporting vulnerable countries and communities.
The operationalisation of the Fund will help affected nations better receive the necessary resources to address the loss of lives, livelihoods, and ecosystems, as well as non-economic losses resulting from the climate crisis.
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